The Best Payment Providers For Your Business

Modern businesses rely on digital services and systems to perform all kinds of daily tasks, from ordering supplies to contacting clients and, perhaps most importantly, making payments too. Paying online is fast, easy, and convenient, with a lot of different options out there, and it can be quite tricky to choose between them.

This is why it’s so important to take your time and compare your options, rather than diving right in and using the first payment provider you find. Some services are much more secure and accessible than others, as well as offering a range of great features like quick and easy currency conversion and smart bank account integration. 

With these factors in mind, read on to learn about some of the best payment service providers you can choose for your business.

PayPal 

One of the best known and most successful payment service providers on the planet, PayPal is used by over 340 million people on both a personal and professional level each and every day. 

Available and accessible across a range of platforms and devices, this payment provider has no set-up fees or annual hidden fees of any card, as well as offering some strong security features like two-factor authentication and PCI DSS compliance. 

On the downside, it isn’t the best option for high-risk or mid-risk businesses and is a little lacking in the field of customer support.

Instabil 

Designed to be one of the best payment service providers for high-risk businesses, Instabil really puts a lot of emphasis on security, making it a good option for those in fields like online gaming or Forex trading, among others. 

It provides leading fraud protection features and works in a range of different currencies too, as well as offering offshore bank accessibility too.

Even for low-risk businesses and customers, Instabil has something to offer and stands out for its fast approvals and solid customer service.

Payoneer 

A great choice for small and big businesses alike, Payoneer is designed with e-commerce in mind, aiming to offer the features and functions you and your business need to compete in today’s world. 

It provides strong security features to ensure that every payment moves smoothly and safely, as well as making international payments in different currencies a lot easier to manage too.

Payoneer uses a clever virtual account system that essentially lets you set-up digital accounts with major currencies like USD and EUR in order to process and accept payments from various customers and suppliers more simply.

2Checkout 

A leading international payment service provider boasting some of the strongest security features in the business, 2Checkout is another top brand you can rely on to make payments with minimal risk. 

There are no set-up or maintenance fees with 2Checkout, and it offers eight different payment methods too, giving you a lot of options to choose from when setting up and using your account. 

Like PayPal, it’s a fine option for low-risk businesses but may be lacking in a couple of key areas for those operating more high-risk companies.

Stripe 

Stripe is an American payment service provider, based out of San Francisco and founded back in 2010. 

Focused on the e-commerce market, this company offers payment processing and various additional services for e-commerce brands to make their own online marketplaces and even apply for loans.

There’s a lot to like about Stripe’s range of services, along with its impressive security standards, and it’s clear to see why so many users have been flocking to this platform in recent times.

PayMill 

PayMill has been around for quite some time now and slowly established itself as another big player in the online payment service scene, boasting easy account set-up and low fees on transactions. 

It makes use of its own fraud prevention system which is very respectable, complete with 2FA and SSL security layers too. 

It’s aimed at European merchants mostly, however, and won’t be the best option for companies that do a lot of business with buyers and suppliers all over the globe.

Conclusion

Making payments online can feel like quite a daunting process, especially for new and smaller businesses, as well as high-risk companies that stand to lose a lot more if something goes wrong. This is why it’s so important to choose the right provider for you.

As we can see, there are plenty of options out there, each boasting their own pros, cons, and unique features. Compare your options, think about what you really want from your payment provider, and use this information to make the right choice.

Author: Editorial Team

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